June data shows turnaround in FDI
India witnessed a turnaround in foreign direct investment in June with 8 percent increase in inflows in the midst of the global economic woes.
New Delhi: India witnessed a turnaround in foreign direct investment in June with 8 percent increase in inflows in the midst of the global economic woes.
FDI inflows in June aggregated USD 2.58 billion against USD 2.39 billion in the same month in 2008-09.
This is for the first time since February that the country has seen an expansion in overseas direct investment.
"From numbers going below USD 2 billion in February and March, it is again rising," Secretary in the Department of Industrial Policy and Promotion Ajay Shankar told reporters on the sidelines of a CII event on piracy here.
The cumulative FDI inflows during April-June contracted by over 30 percent to USD 7.02 billion over the same quarter of 2008-09. In the first quarter of the previous fiscal it was USD 10.07 billion.
India attracted FDI of USD 27.30 billion in 2008-09, compared to USD 24.58 billion in the previous fiscal.